WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. SHIB also surpassed the one-million holder mark following its all-time high. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. xcritical, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin.
Shiba Inu (SHIB) is an Ethereum-based (ERC-20) token that is hosted on the Ethereum xcritical. For this reason, Ryoshi can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.” Shibarium, the layer-2 solution tied to Shiba Inu, has achieved a notable feat in total value locked (TVL), marking a significant milestone in its development a…
A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay.
Shiba Inu investors and community members believe that a xcritical listing could xcritical the coin to even greater heights, and a change.org petition imploring xcritical to list the new coin has gathered nearly 400,000 signatures. xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services. Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018.
According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021. “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says. SOL is the native token of Solana, a decentralized Proof-of-Stake xcritical built to enable scalable, user-friendly DApps.
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SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. xcritical may also be wary of the threat of new crypto rules and regulations. In early October, after Securities and Exchange Commission head Gary Gensler said he wanted all crypto platforms to be registered with the SEC, xcritical released a statement explaining that such regulation could “adversely affect” crypto markets.
Shiba Inu news
Since its initial listing on the NASDAQ stock exchange last July, xcritical (HOOD) soared to an all-time high of $70.94 on Aug. 4, 2021. Today it’s trading at a steep 83% discount at $11.70 per share from August peak price. xcritical, the American financial services company known for pioneering commission-free stocks and cryptocurrency trades, has listed the dog-themed meme coin Shiba Inu on its platform. But recent unconfirmed rumors that Shiba Inu would list on popular stock and crypto trading app xcritical also helped spark SHIB’s recent trading frenzy.
Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.
The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost. It was launched as an alternative to Dogecoin (DOGE) in August 2020 by an anonymous person or group under the name Ryoshi. According to its founders, it was created as an experiment in decentralized spontaneous community building. The experiment was a succes, and in October 2021 SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. xcritical executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard.
As of today, the Change.org digital petition was still live and had 559,701 signatories — more than halfway to its target of 1 million. It’s difficult to tell whether the lobbying activity or petition had any effect. After months of lobbying, and 559,701 petition signatures, popular dog-themed cryptocurrency Shiba Inu (SHIB) has been listed on mobile trading app xcritical along with three other top-100 cryptos. The website also prompts users to sign up for a xcritical crypto account so they can “buy or sell Shiba Inu commission-free.” The listing was first noticed by Cryptocurrency Alerting, which monitors real-time crypto exchange listings. Its even lower than before the cryptocurrency started trading on xcritical.
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- xcritical executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard.
- “Due to uncertain and volatile market conditions, listing SHIB might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo.
- Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay.
- His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!.
For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. Tor Constantino is a corporate communications executive and business writer with an MBA. Since 2017, he has written about cryptocurrencies, xcritical, and crypto’s potential to revolutionize finance. His writing has appeared in outlets xcritical cheating including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. The decision to list the four cryptos is more likely an effort by xcritical to slow its recent stock slide.
Breaking: Shiba Inu Is Now Listed on xcritical. Should You Buy?
I would keep my eye on that important metric to wait and see if the SHIBA team can reverse attrition of its holders, because if Shiba Inu can’t keep and grow its user base — then all the news in the world won’t matter. Say Technologies, LLC provides technology services for shareholder engagement and communication.Sherwood Media, LLC produces fresh and unique perspectives on topical financial news. MATIC is the native token of Polygon (previously Matic Network), a decentralized Proof-of-Stake (PoS) xcritical, which operates as a sidexcritical to Ethereum and benefits from its security. Polygon claims to be able to process up to 65,000 transactions per second with network fees of a fraction of a cent. In addition to SHI, a financial ecosystem is planned, and SHI would be added as a weighted pool pair on Curve. In that case, Ryoshi expects forks of the major DeFi protocols to appear in the Shiba Inu ecosystem, which would require an immutable bridge to function.
We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. The coin has found a place on the official website of xcritical, much to the cheer of the Shib Army, a group that focuses on trading and buying the Shiba Inu cryptocurrency coin and NFTs. The cryptocurrency has its own dedicated page on the website, featuring a live Shiba Inu to USD chart. “Due to uncertain and volatile market conditions, listing SHIB might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo. xcritical’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at xcritical analytics platform Nansen.
For now, “investors are finding ways to purchase SHIB even without the use of xcritical,” Khoo says, and its growth may mean that xcritical can’t ignore it forever. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment.
Shiba Inu’s price surged as high as 31% after the announcement was made on xcritical’s official Twitter channel today. He did not have (either directly or indirectly) any xcritical scammers other positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing xcriticals.